Ethereum (ETH) recently surpassed the $2500 level, sparking discussions about potential bullish momentum. According to the Binance platform, Ethereum briefly exceeded this level before retreating to the $2470-2480 range. Currently, ETH is trading at $2466.76, with a 4.15% increase in the last 24 hours.
*Key factors affecting Ethereum's price:*
- *Bullish sentiment:* Analysts believe that surpassing the $2500 level may indicate a significant upward trend, potentially pushing the price to $4000 in the near future, as observed in historical patterns.
- *Resistance levels:* Key resistance levels to watch are $2550 and $2700, which could be targets if the bullish momentum continues.
- *Market sentiment:* The cryptocurrency market shows mixed signals, with Bitcoin (BTC) trading around $60800, reflecting cautious optimism.
- *On-chain metrics:* Increasing interest from individual investors is evident, with over 120,000 new Ethereum addresses created in the past week.
- *Correlation with the stock market:* Ethereum's performance often reflects movements in tech-dominated indices like Nasdaq, which recently rose by 0.7%.
*Technical indicators:*
- *Relative Strength Index (RSI):* is at 58, indicating no overbought or oversold conditions, leaving room for bullishness.
- *MACD line:* crossed above the signal line, which
